A 50-50 joint venture has been formed between Minera Rayrock (TSE) and Battle Mountain Gold (TSE) for the purpose of exploring a number of gold properties in Costa Rica. Initially, Battle Mountain will earn a 50% interest in Minera’s Liberia and Turin prospects as well as participate in other regional exploration programs in that Central American country. Minera said a budget of US$250,000 has been set for this year’s program.
The Turin prospect is a large epithermal alteration gold system in Costa Rica’s central gold belt where a number of old mine workings have been exposed. A program of geochemical and geophysical surveys as well as trenching is underway to develop drill targets. The Liberia prospect, 75 km northwest of Turin, hosts epithermal gold-quartz veins within highly silicified volcanic breccias.
In Chile, Minera’s 50-50 joint venture with Hecla Mining (NYSE) has acquired at total of 17 prospects with copper or copper-gold mineralization and epithermal gold systems. Initial exploration, geophysics and mapping are underway as part of a US$1-million program for that joint venture.
On Minera’s Pullalli gold prospect, 120 km northwest of Santiago, sampling, geophysics and trenching are under way in preparation for drilling in mid-April. The Pullalli prospect was the site of small-scale mining in the past.
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